WKSP - America is Growing Electric Muscles in 2022
The eagerly awaited F-150 Lightning by Ford Motor (NYSE: F) is not the only electrified pickup truck on the way. Although Rivian will launch its R1T before Tesla Inc (NASDAQ: TSLA) Cybetruck, there are many other players set to enter the electric stage next year.
Ford F-150
The 2022 F-150 Lightning can easily end up being the segment definer so far but it will surely test if America is eager to adopt EVs. The standard F-150 is America’s most beloved pickup which will work in its favor, along with respectable specs with up to 300 miles of range. As for payload and towing, Lightning will do the job of its standard counterpart but it will come in two powertrain flavors: Standard Range and Extended Range. Reservations are open with production scheduled for spring.
Chevy Silverado EV
Although details are awfully slim at the moment, the electric Silverado is coming and it will likely be a lot more affordable than the GMC Hummer EV pickup, both owned by General Motors (NYSE: GM) that is investing heavily in its electric transformation. Like the Lightning, it will have a commercial version and trucks for retail buyers. Production will take place at the automaker’s Factory Zero before 2025 and GM’s Ultium EV platform should deliver at least 400 miles of range.
GMC Hummer EV
This is one of the greatest vehicle name resurrections in history after its predecessor died over a decade ago. Instead of being a total reboot of the Hummer brand that died a decade ago, the Hummer EV pickup will be marketed as a sub-brand of sorts at its dealers. It’s coming next year exclusively in Edition 1 trimmings, followed by the standard pickup in the fall with a tri-motor setup, and the more affordable trucks with a two-motor system in the spring of 2023. The “affordable” is relative since it’ll cost $89,995. The”base” Hummer EV is scheduled for the spring of 2024with a price tag of $79,995..
Tesla Cybertruck
The futuristic Cybertruck will come in three flavors: a tri-motor, a dual-motor and a single-motor. It will be produced at Tesla’s new Gigafactory in Austin, Texas with production delayed from this to next year.
Rivian R1T
This startup has a lot of credibility behind its upcoming EV pickup, as it has been backed up by Amazon.com Inc (NASDAQ: AMZN) and Ford Motors (NYSE: F). Probably the world’s first electric pickup is scheduled to start deliveries in September. It will be about the size of a Honda Motor Co (NYSE: HMC) Ridgeline.
It’s marketed as the right balance between an EV pickup people can drive daily but also be able to go off roads, with lots of neat storage options and accessories.
Lordstown Endurance
Lordstown Motors Corp. (NASDAQ: RIDE) confirmed last week it is on track to begin production and deliver the Endurance to a select few at the beginning of next year. With four in-wheel motors, the Endurance should sport a 250-mile range and 600 horsepower with prices starting at $52,500. For its latest reported quarter, Lordstown focused at lowering operating costs and R&D spending from the previous quarter to offset the increase in capital expenditures that more than doubled from $53 million in the first quarter to $121 million. The net loss of $108 million is a 13.7% improvement from the first quarter loss, but it is more than tenfold the loss it reported for the same period last year.
Atlis XT
Atlis made a splash in early 2019 with the announcement since gone quiet. Nevertheless, the announced specs are nothing short of impressive, with quick charging times of fewer than 15 minutes and equipped by Worksport Ltd (NASDAQ: WKSP)-owned groundbreaking solar powered tonneau covers TerraVis which will also be configured for the upcoming Hercules Alpha. Worksport Ltd who announced this morning that it has formed a new subsidiary TerraVis Energy Inc. seems to have increasing developments in the electric vehicle and energy space.
Hercules Alpha
The Detroit startup, Hercules Electric Vehicles, is going for the luxury pickup market with design by Italy’s Pininfarina and a range of personalization options and customizable interiors.
Many electric pickups are on the way.
The above have been slated for 2022 but many more electric pickups are to come soon after. One of Stellantis N.V. (NYSE: STLA) crown jewels of profitability, Ram, will appear on the electric pickup truck scene in 2024. Toyota Motor (NYSE: TM) also confirmed its electric pickup is on the way without specifying the date, along with Bollinger’s B1 pickup and B2 SUV who might come even at the end of 2022 or later. All in all, the era of the electric pickup is just around the corner.
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